New York - Private equity group Arsenal Capital Partners has bought Para-Chem Southern, which makes speciality adhesives, coatings and polymers.
Para-Chem will be merged with another Arsenal investment, Royal Adhesives and Sealants llc. Arsenal announced its purchase of Royal two weeks ago.
Para-Chem, headquartered in Simpsonville, South Carolina, offers speciality adhesives, coatings, polymers, surfactants and thickeners to a diverse range of markets in North America. These include carpeting, personal care, household, institutional and industrial, graphic arts, construction, speciality textiles, paper, packaging, and military.
Arsenal says the company "specialises in custom formulations offering flexible production, applications development, technical support and excellent service."
Arsenal Capital partner John Televantos said, "Para-Chem has a long history of innovation providing great solutions and service to its diverse customers. The acquisition of Para-Chem and merger with Royal represents an important milestone in our strategy to further build a leading adhesives, sealants and coatings business offering customised and proprietary solutions."
And another Arsenal partner Tim Zappala, noted the potential to expand the business further through "organic growth initiatives, global expansion and further acquisitions."
According to Ted Clark, ceo of Royal, said, "The acquisition of Para-Chem strengthens Royal's technical expertise and approach of providing customers with specialty formulated products."